The interest you'll earn can go towards your ACC levy, so you might not need to set extra aside for that.

2. Get help when you need it

You may want one-off advice to get you up to speed, or ongoing help from an expert.

You should:

Have a think about what you actually need. Are your tax affairs complicated, or are you pretty confident you can get it sorted yourself?

Consider getting help at key times if you decide you don't want the ongoing cost — pick and choose what you want help with and what you can do yourself.

Do some research before appointing anyone, and think about your needs and the type of advice you're after. A chartered accountant may fit the bill, or a qualified bookkeeper or tax agent. Their fees will differ, as will the experience and expertise on offer.

Calling in professionals can be costly — but they know all the ins and outs of tax, so may end up saving you more than they cost you.

Using online accounting software can make this step easier.

4. Use the right systems

Whether you opt for paper-based or online, choose a system that suits your business.

You should:

Talk to others and try a few systems to work out what's best for you and your business — there are plenty of online software options that can save you a lot of time at not much cost. Or opt for a paper-based system.

Consider getting expert help to get started — knowing you've got everything set up properly will save you time and stress down the road.